ONEOK (NYSE:OKE) Hits New 52-Week High at $86.40

ONEOK, Inc. (NYSE:OKE) reached a new 52-week high on Wednesday . The company traded as high as $86.40 and last traded at $85.97, with a volume of 449097 shares trading hands. The stock had previously closed at $85.74.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on shares of ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus target price of $85.50.

ONEOK Stock Up 0.6 %

The firm’s 50-day moving average is $81.91 and its two-hundred day moving average is $78.80. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market cap of $50.36 billion, a P/E ratio of 20.03, a PEG ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.59%. ONEOK’s dividend payout ratio is currently 92.09%.

Institutional Investors Weigh In On ONEOK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKE. Hilltop Holdings Inc. grew its holdings in ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock valued at $1,160,000 after purchasing an additional 1,124 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in ONEOK by 26.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after acquiring an additional 5,167 shares in the last quarter. Federated Hermes Inc. grew its stake in ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after acquiring an additional 38,560 shares during the period. TD Asset Management Inc increased its holdings in shares of ONEOK by 11.6% in the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after acquiring an additional 21,657 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of ONEOK by 32.1% during the fourth quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock worth $5,084,000 after purchasing an additional 17,612 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.